A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

November 21, 2006

Here's the laughable NAR preso from their annual confab. Oh, man, I wish I was there to heckle. So many slides have so much misleading spin, it's worse than any politician or Cubs manager.Here's a few select tidbits. Download the entire preso, and also thanks to David at BubbleMeter for the imagesSlide 1: "The Road to Recovery" - even the preso title is hilarious! We're on the highway to devastation - recovery lane is miles and miles awaySlide 5: Calling the bottom on new home sales. How stupid does he think we are? A little blip as panicked builders unload at any price is not a bottom, it's a blip. This chart will go down and down and down and down for years and years to come, as builders stop building new dead inventory. Slide 16: "Very Cold" markets: California, Southern Florida, Arizona, Nevada, DC Region

Slide 42: Blaming the media for the end of the ponzi scheme: "Bubbles Will Burst. Balloons Will Pop. Prices Will Fall 30% to 40%. Housing Downturn Will Send Economy into Recession"Slide 47: Still cheerleading: "Wake up and smell the equity! The national median home price has increased 88 percent over the last 10 years!"Slide 71: Ending with the bizarre and laughable Greenspan quote “Most of the negatives in housing are probably behind us"

I'll stay on realtors' (and the REIC's) cases until the death of that profession. They serve no useful purpose in society anymore. They're dishonest cockroaches, bloodsuckers, liars and thieves. Even though yes, some of them are likely decent people. Their profession however is now a joke.

Don't like it? Don't read HP. The NAR has a wonderful website full of great information too.

The slide with the media person looks more like a realtor that has just been told that the deal what was going to cover his new Hummer lease payments and the Aspen vacation with his significent other was canceled.

Speaking of smart realtors, this is hilarious..."designed to build great agents' reputations through public recommendations, as well as to transform the perception of the industry as a whole."I Love My Agent